Economic Update – Baghdad
The Central Bank of Iraq has announced a 2.9% increase in the internal debt, while public spending has seen a significant decline.
According to the central bank’s recent report, the internal debt of Iraq rose to 81 trillion dinars in November 2024, up from 78.77 trillion dinars in the previous month.
This rise in internal debt can be attributed to a 15.2% increase in bonds issued for public purchase, alongside a 2% growth in treasury transfers managed by the central bank, commercial banks, and through electronic transfers.
The report highlights that loans from financial institutions and government banks remained stable over the same period.
In contrast, the central bank noted a decrease in public spending, which fell to 12.69 trillion dinars in November 2024, representing a decrease of 15.15 trillion dinars, or 54.42%, compared to 27.84 trillion dinars in October of the same year.
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